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The Minitab analysis of monthly data on the United States inflation rate (in percentage units), from January 2005 to December 2007, is shown below. Notice
The Minitab analysis of monthly data on the United States inflation rate (in percentage units), from January 2005 to December 2007, is shown below. Notice you see just first few rows of the raw data. A multiplicative time series decomposition model produced seasonal indices and a trend estimate. Seasonal Indices Fitted Trend Equation 5 C1-T MonthName JAN FEB MAR APR MAY JUN JUL AUG C2 Year 2005 2005 2005 2005 2005 2005 2005 2005 C3 InflationRate 3.0 3.0 3.1 3.5 2.8 2.5 3.2 3.6 Period Index 0.93533 0.90923 0.95747 0.98023 5 1.03728 1.13440 7 1.14939 8 1.04794 9 0.93336 10 1.01049 11 0.97738 12 0.92750 Yt = 3.471-0.02046xt Based on the seasonal indices values in Minitab results, which of the following statement is true? March's inflation rate is approximately 4.3% below the average monthly inflation rate. The lowest inflation rate is for the month of July. December inflation rate is about 7.3% above the average monthly inflation rate. The highest inflation rate is for the month of February. June's inflation rate is approximately 13.4% below the average monthly inflation rate
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